tradersvision
Long

Is it TIME to BUY ?

FX:GBPUSD   British Pound/U.S. Dollar
308 6 1
Referring to my last analysis of this pair (Where will it end?) 5 days ago, where I was looking for buylimits at lower levels, it seems to me that this right here is worth a try to go long with the 61.8% Fib-Retracement in the back as support. YES, it does not look like a very trustworhty situation but which spot does at the beginning of a expected counter reaction? Anyway, I trust the two shadows and the Fib-Linie. Unfortunately, Momentum is not yet positive but it seems to me that it will show some sign of life during the day. Watch the Dollar Index             , as it is sitting around 80 and I guess there will be resistance for the Dollar ahead. I am going long right here as I can calculate my risk and the chart tells me pretty clear and fast where I am wrong if it happens to be so.
Thanks for posting, was not easy trade, but I made money. Thanks again.
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Thank you for posting. On 1 hour chart found some spot to get long position, nice round number. But my target is just a retracement 60% of the previous move down.
Once again, thank you for posting.
Chart:
snapshot
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...my pleasure!...120 pip target...lots of profit...in case we hit the target...:-)
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artaj68 tradersvision
hopefully we hit :-)
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Agreed.
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Followed.
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